In a significant move, Karnataka has given the green light to 62 industrial investment proposals, including ethanol projects, amounting to Rs 3,607.19 crore. These proposals are expected to create job opportunities for 10,755 individuals across the state.
Key investors in this development include Texcon Steels, Hundri Sugars and Ethanol, Bren Life Sciences, Alpine Ethanol, Virupaksha Laboratories, and Qualcomm India, among others.
As per report, prominent companies committing to invest in the state include Texcon Steels (Rs 480 crore), Hundri Sugars and Ethanol Private (Rs 476.54 crore), Bren Life Sciences (Rs 230.56 crore), Alpine Ethanol (Rs 229.19 crore), Virupaksha Laboratories (Rs 212.55 crore), Qualcomm India (Rs 175 crore), LRB Wood Industry (Rs 102.50 crore), and Matha Industries (Rs 102.1 crore).
The memorandum of understanding (MoU) for these investments was signed during the 26th Bengaluru Tech Summit (BTS) 2023, inaugurated by Priyank Kharge, the Minister of Information Technology & Biotechnology and Rural Development & Panchayat Raj.
Expressing optimism about the state’s future, Kharge stated, “We are looking to build Karnataka as an investor destination, startup hub, innovation capital, resource destination, and manufacturing hub.”
